Investment service for children’s futures, Hapi, is the first customer to integrate the new API
New API will allow firms to quickly launch and build JISA products for their customers
Integration comes in wake of government increasing JISA tax-free allowance to £9000
Hapi, the investment service for children’s futures, is one of the first customers to integrate with the new API, providing JISAs for parents and families to save for their children.
Wednesday 21st July, London, UK
WealthKernel, a wealthtech provider for digital investment services, has today announced the integration of Junior Individual Savings Accounts (JISA) API functionality into its platform. The new functionality will enable WealthKernel’s clients to quickly and seamlessly launch JISA products for their customers, via WealthKernel’s APIs.
WealthKernel’s new JISA API will allow its clients to benefit from a low-cost, easy-to-implement JISA – providing access to a government-approved investment savings product for their children. With the API integration, WealthKernel’s customers can quickly build the new JISA functionality into their products, eliminating the need to build the infrastructure in house, and increasing their speed-to-market.
WealthKernel’s latest API comes at a time as demand for JISA products has increased drastically in response to the government increasing their tax-free allowance from £4,500 to £9,000. While investment products have traditionally been less profitable for companies to build in-house, WealthKernel’s automated approach means that any financial provider or fintech startup can easily integrate JISAs, while lowering the cost of offering exciting products to parents and families.
Hapi, a new investment service helping to “turbocharge” the financial future of children, is one of the first businesses using WealthKernel’s APIs to offer JISA products to its customers. Using WealthKernel’s API, Hapi will allow parents – and other family members – to contribute to, and invest for, their children’s futures.
Karan Shanmugarajah, Founder and CEO of WealthKernel, says:
“It’s incredibly exciting to be able to announce our new JISA API functionality for our customers – particularly at a time where people are becoming increasingly focused on their children’s financial futures. JISAs are a hugely powerful vehicle for parents and other family members to help set up the future of their children, and here at WealthKernel, we want to help enable this future by empowering the businesses offering these products. By eliminating the technological, and regulatory burdens for fintechs like Hapi, we hope to give them speed-to-market and greatly increase the accessibility of investment and savings services like JISAs”
Youssef Darwich, Co-founder of Hapi Plan, says
“Working with WealthKernel has really enabled us to push the limits on what we can do with our Junior ISA product. With Karan and his team’s guidance, we’ve been able to take the innovative approach that Hapi has always strived for. One such innovation that WealthKernel supported us with, was the ability for any family member to contribute to our JISAs, instantly and seamlessly. But the main thing we have valued, and been impressed with, was how quickly and easily we could integrate into WealthKernel’s API and launch our product.”